Finance

The neobank expects to turn a profit by the end of the year, but faces challenges as it copes with the government's pause on federal student loan repayment and with the difficulty of selling technology services to other businesses.

Banks grappled with a litany of questions throughout earnings season about the likelihood of a recession and the potential for increased pressure on commercial real estate borrowers.

About $2.9 billion of the deposits the company obtained from the failed Signature Bank had fled as of last week, and executives are forecasting that number to double. However, they say they're "cautiously optimistic" they can lure some deposits back.

Even as First Republic Bank has sunk deeper into crisis this week — falling as much as 49% on one day alone — shares of many of its peers, including names like PacWest Bancorp and UMB Financial, have mostly held steady.

The credit card firm attracted new business in part from the consumers who were moving their funds over from traditional banks.

The San Francisco fintech is trying a new solution to a persistent problem, as marketplace demand for its loans continues to drop.

The Pacific Northwest bank didn't reveal exactly how much more it expects to save. But executives said that they expect to achieve their earlier target sooner than they previously anticipated.

Like Visa CEO Ryan McInerney, Mastercard CEO Michael Miebach spent part of his company's earnings call drawing a competitive distinction between the card network and FedNow.

The Missouri bank was downgraded by credit rating agencies in the wake of last month's bank failures, but CEO Mariner Kemper is pushing back. "We have way, way overblown the impact of two failed banks," he said.

The Oklahoma lender said its oil-and-gas portfolio remains a key source of stability and potential growth, despite weaker commodity prices.

Senior officials of the Federal Deposit Insurance Corp. are said to be weighing whether to downgrade their scoring of the San Francisco bank's condition, including its Camels rating. That could limit the bank's use of the Federal Reserve's discount window and an emergency facility launched last month.

Researchers at the Federal Reserve Bank of Philadelphia have come up with a plan for letting banks innovate with artificial intelligence and widening access to credit at the same time.

The California bank, which endured large deposit outflows in March, anticipates selling its $2.7 billion lender finance portfolio in the coming months. It's also looking at cutting facilities, employee headcount and vendor costs.

Her statement calls out "a fundamental misunderstanding about the fees" following concerns expressed by two congressmen and others about their impacts.

True Digital, which helps financial institutions zero in on vendors, says midsize banks have a unique need for its product.

The California bank, which was hit hard by last month's banking crisis, has partially rebuilt its deposit base. It reported a first-quarter loss, but one that was smaller than some analysts expected.

Visa saw overseas spending on the firm's cards unexpectedly rise in the first three months of the year, as the payments giant benefited from an increase in global travel.

The San Francisco bank, on shaky ground after two regional peers failed last month, said that customers pulled more than 40% of their deposits last quarter. It's been forced to turn to more expensive sources of funding, which analysts said will squeeze its profitability.

The Dallas-based company is intentionally shedding certain deposit relationships that don't align with its new business model. Total quarterly deposits fell 12.6% year over year, but they rose 1% after excluding the relationships targeted for reduction, according to the bank.

The Birmingham, Alabama, bank said that its deposits fell by $3.3 billion last quarter, and it projected a decrease of up to $2 billion between April and June. Executives assured investors that sizable liquidity sources are available.